CANADA: Dare Foods outlines M&A targets
Privately-owned Canadian food group Dare Foods has said it is looking to make acquisitions, with a focus on the cracker and snack sectors.
Dare Foods, which earlier this week announced former Heinz executive Peter Luik would become the company's president next month, is eyeing targets in North America, chairman Bill Farrell told just-food.
Farrell said Dare Foods was looking at deals in all the categories in which it operates, except for confectionery. However, he revealed "speciality crackers and snack products" were of particular interest, with a "focus" on North America.
Dare Foods manufacturers biscuits, crackers, bread products, confectionery and fruit snacks. Its last acquisition was in 2001, when it bought biscuit, fine bread and soup firm Culinar.
Farrell said Luik has the experience of acquiring and integrating businesses in his previous role as president and CEO of Heinz's Canadian operations.
"During Peter's tenure as president and CEO of Heinz Canada, he led the organisation through the acquisitions of Renee's Gourmet and Arthur's Fresh Company. Renee's and Arthur's expanded the portfolio into new and growing categories and provided Heinz Canada with an expertise in chilled product," Farrell said.
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